Top 10 Health Insurance Companies In Canada (2021)

Health insurance refers to a type of insurance coverage that typically pays for the surgical, medical, prescription drug, and sometimes, dental expenses incurred by the insured. Health insurance provides expenses for illness or injury to the insured. Health insurance is a coverage that is usually included in employee benefit packages. In short, health insurance is a contract that requires a health insurer to pay for someone’s health care costs in exchange for a premium. 

Health Insurance Companies in Canada provide health insurance services. These companies help people pay for healthcare by combining the risk of high health care costs across a large number of people, permitting them to pay a certain amount based on the average cost of medical care for the group.  Canada is one of the best countries in the world, and of course, one of the best places to find top-class health insurance companies. Albeit there are lots of health insurance companies in the country, moreover, some are known for their exceptional services. In this article, we will provide you with a list containing the top Canadian health insurance companies

Top 10 Health Insurance Companies In Canada

  • Manulife

Manulife was founded on 23 June 1887. The company is located in Toronto, Ontario, Canada. Manulife is a multinational insurance company and financial services, provider. Manulife believes that everyday people are faced with the decision about their future- decisions about healthcare, education, investment, or retirement. The company is committed to helping people out of these important life moments.

Manulife health package is created to help and protect people from regular dental and health costs and expenses associated with disability, critical illness, and long-term care. If you are diagnosed with a critical illness, you can focus on recovery with support from Manulife’s critical illness insurance solutions. 

  • Sunlife Financial

Sunlife Financial was founded in 1865. The company has offices in Canada, the United Kingdom,  the United States, Asia, and other parts of the world. Sunlife Financial offers a wide range of insurance packages including health and life. The company’s health insurance includes wellness, disability, stop-loss, and long-term care coverage.

With the personal health insurance provided by Sunlife Financial, you can pay for health expenses such as prescription drugs, dental and vision care. Long-term care insurance covers the cost for clients when they require substantial assistance from others due to their diminished mental or physical abilities. Sunlife Financial makes use of an easy to navigate and professional website with top-notch customer service. 

  • GreatWest Life 

GreatWest Life was founded in 1897 by Jeffrey Hall Brock. The company has its headquarters in Winnipeg, Manitoba, Canada. GreatWest Life provides health, life, and personal life insurance. The company provides a wide range of insurance and wealth management products for individuals, families, and business owners from coast to coast.

GreatWest Life’s insurance can provide you with a tax-free payment if you are diagnosed with a serious illness or a monthly income if you can’t work. As of January 1st, 2020, GreatWest Life joined with London Life Insurance to form Canada Life Assurance Company. 

  • Blue Cross Life

Blue Cross Life has its headquarters in Moncton, New Brunswick, Canada. The company is a federally licensed company with operations located in each province across Canada. The corporation is owned by six shareholders, operating as Pacific Blue Cross, Alberta Blue Cross, Saskatchewan Blue Cross, Manitoba Blue Cross, Blue Cross Canassurance, and Medavie Blue Cross.

Blue Cross Life specializes in life insurance, living benefits, and disability income protection products to supplement the portfolio of health and dental products distributed by its shareholder Blue Cross plans. The Company’s products are marketed, sold, and serviced by the regional Blue Cross Plans.

  • GMS Health Insurance

GMS Health Insurance is a private company that was founded in 1979. The corporation is located in Regina, Saskatchewan, Canada. GMS Health Insurance mainly specializes in offering health insurance coverage. Whether you just want to try out the basics for a while, want to add to your work, or want a complete wellness package, the company’s personal health benefits plans give you a chance to choose what works for you.

Your health coverage with GMD Health Insurance optometrists, glasses and contacts, dental, prescription drugs, acupuncture, massage, physio, and more. The company ensures that its health insurance package provides everything customers need from preventative to emergency care so that they can focus on more important parts of their lives. 

  • Scotia Life Health And Dental Insurance

Scotia Life And Health Insurance is located in Ontario, Canada. The company offers a wide variety of insurance services such as life, health, auto, travel, and creditor insurance services. Speaking about health insurance, the company offers mainly two packages; critical illness insurance and health and dental insurance.

Scotia Life Health And Dental Insurance services are simple and world-class. The company’s mission is to offer simple insurance solutions and provide excellent advice to the need of customers. 

  • State Farm

Some insurance companies place a greater emphasis on health care coverage than others. State Farm provides a wide range of insurance products. The company highly focuses on health care coverage. They promote that their health insurance policies cover the same benefits as their corporate policies. Alternative care coverage is included in the list of benefits. Some people may place a higher value on it.

State Farm’s main mission is to help people manage the risks of everyday life, recover from the unexpected, and realize their dreams. The team is passionate and driven to create possibilities for its clients. 

  • CAA

Most people think CAA only deal with vehicle-related service, however, they also offer healthcare insurance solutions. The company’s health insurance is provided via Manulife. CAA is always working to maintain trust, safety, and dependability. 

  • Green Shield Canada

Green Shield Canada was established in 1957 and is located in Windsor, Canada. The company provides drug, dental, extended health care, vision, hospital, and travel benefits for groups and individuals, as well as administration services. 

  • TD Insurance

TD provides excellent health care insurance service. They offer critical accident and critical care insurance. Also, they provide Accident and Sickness Hospitalization coverage.

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Conclusion

There are various benefits of getting health insurance coverage. It protects your income from unexpected expenses, gives you the power to protect your family when you are not around, safeguards your emotional health by giving you peace of mind, and protects the money you are saving for future plans. If you have been searching for the best health insurance companies in Canada, you are at the right place.